Seeking Clarification

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..... Seeking Clarification
Query (Issue) Started By: - Chandan De Dated:- 10-11-2017 Last Reply Date:- 13-11-2017 Customs - Exim - SEZ
Got 6 Replies
Customs
I would like to request , if someone told me the formalities / procedure related the following issue . I need to import some materials from china & the same materials to be export . Shall I need to pay import duty . Then my total costi .....

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..... ng will be effected . Kindly advice . If any bond can resolve the issue then what will be the formalities . Reply By Ramaswamy S: The Reply: it appears it is trading. BCD +IGST payable. May be exported on payment of IGST and claim refund of IGST paid on export of the goods. Alternatively, drawback under Section 74 of Customs Act may be claimed, if identification issues can be established. Repl .....

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..... y By Chandan De: The Reply: Dear Mr. Ramaswamy S Thanks for your support. Reply By MARIAPPAN GOVINDARAJAN: The Reply: I also endorsed the views of Shri Ramasamy. Reply By Interface Connectronics: The Reply: You can Import and Bond the items in a customs bonded warehouse on arrival of the cargo. No payment of duty is to be done. You have to execute a Double Duty Bond on Stamp Paper. Once Bond .....

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..... ed, You can approach customs for permission to export from the bonded warehouse. Once permitted you can export the cargo.No Duty payment involved. Reply By Kishan Barai: The Reply: Even if you import in custom bonded warehouse, bank guarantee has to be given, so best option would be "Switch B/L" Transactions as goods would be exported directly via it under your firm name. Reply By KA .....

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..... STURI SETHI: The Reply: Perfect and convincing reply by Sh.S.Ramaswamy, an expert.
Discussion Forum - Knowledge Sharing .....

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